Why Seinfeld’s 1998 Porsche 911 Didn't Sell

PLUS: Why Ferrari is King of Sales... (for now)

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MARKET LEADERBOARD

💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc… All online auction sites are analyzed to put this leaderboard together.

The reserve sell-through rate is just for cars that are listed with a reserve. The full sell-through rate includes all auctions, reserve and no-reserve.

I only include websites that have sold 5+ cars in the chart below.

The market leaderboard looks VERY different to what it was looking like 24 hours ago. Yesterday we had a packed leaderboard, today it is sparse. It just shows you how up and down the online auction market can be for many in this market. Now of course there are some who are more about quantity vs quality, but in general most want to at least start off by listing 5 a day, let alone selling 5 a day.

What's interesting is that generally across the board sale numbers were down. The overall number of vehicles sold was considerably less. However, the total sales was just over $7 million.

As you can see below, the actual sales prices were a lot higher than the previous day. As an example, 5.3% were $0-$5k. The previous day this was 27%, quite a difference! The average sale price yesterday was $44k, versus $33k the previous day.

YESTERDAY’S TOP 5 SALES

Ferrari dominated the top sales yesterday. (a deep dive on them is incoming) A fascinating tidbit about the top sale, the 2022 Ferrari 812 GTS: it's quite hit or miss in terms of sales, with most listings not selling (likely because sellers are aiming too high). In this case, yes, it sold for around $40k over MSRP, but it was also the lowest price ever paid for this model on BaT.

Now, the buyer is no ordinary person. 'foreignaffairmotorsport' is one of BaT's most prolific buyers. He’s had ‘quite’ the week in buying cars, as you can see below.

2022 Ferrari 812 GTS $511,989

2024 Porsche 911 (992) GT3 RS $464,600

2009 Ferrari 430 Scuderia Spider 16M $441,000

2021 Mercedes-AMG GT Black Series $361,000

2016 Ferrari 488 GTB $263,000

Here is some extra data we calculated that we think you’ll find useful.

Why Jerry Seinfeld’s 1998 Porsche 911 Carrera S Coupe Didn’t Sell

Jerry Seinfeld's 1998 Porsche 911 Carrera S, touted as the last air-cooled Porsche delivered to North America, failed to sell despite reaching a high bid of $178,000. You'd think anything associated with the comedy legend would be an automatic hit, right?

Well, not so fast. This particular 993 had a few factors working against it. For starters, it had already sold back in 2021 for a higher $225,000, so buyers may have felt the current asking was too rich. But the likely deal-breaker? This Porsche was optioned with a Tiptronic automatic transmission instead of a proper manual gearbox.

I mean, who would have thought Jerry Seinfeld of all people wouldn't order a stick shift? That's like going to a pizza joint and ordering a salad! The Tiptronic likely turned off a lot of enthusiast buyers who expect icons like this to be row-your-own rides. It probably explains why the odometer only shows 6,000 miles too - Jerry probably barely drove the thing!

The comment section was hilariously full of Seinfeld references and gags, over 200 of them. But at the end of the day, there were only 5 bids! While it was undoubtedly a special car, the combo of higher pricing expectations and that ill-advised automatic trans spec killed the deal for this piece of Porsche/Seinfeld history.

Yesterday we asked you about whether you've experienced frustration with the listing delays on major auction platforms. And boy did you respond!

Over 60% of you felt frustration with delays - with a mixed bag though, some saying you had been communicated with well.

Here's a selection of your comments:

Vehicle accepted. Never got back to me. Sold on the private market. I think it took six or nine weeks before I ever heard back from them. Vehicle was long gone.

I've listed a number of cars mainly on Bring A Trailer. They could be quicker, but communication has always been good for me. When I listed on Cars & Bids, they were a lot more on it, but i guess they're a smaller company so easier for them. I would list with either of these two again.

Yes its was frustrating even four years ago to list on BAT.. When my 71 Ford Ranchero was listed it was placed next to a El Camino..I asked if it could be moved but nothing could be done once the listing was live..Reserve was not met and landed up selling it to a local classic dealer..This was at the beginning of the pandemic....BAT volume has increased in four years so no surprise the longer wait period...

I had a mixed experience on BaT. They kept me waiting for over 3 weeks and then one day I received notifdcation that my auction was going live that day. I would have preferred more notice. But in the end my car sold for a good price, so can't complain too much.

Submitted and sold my car quickly. Easy process for me.

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